WAEC Commerce Questions and Answers 2023
by Kowsalya
Updated May 22, 2023
WAEC Commerce Exam
The West African Examinations Council (WAEC) conducts Commerce examinations as part of its assessment process. The Commerce exam is designed to evaluate students' understanding of various business-related concepts and principles.
The exam typically covers topics such as business organization, marketing, finance, accounting, entrepreneurship, and economic systems. Students are expected to demonstrate knowledge of key terms, concepts, and theories related to commerce.
The Commerce exam may consist of multiple-choice questions, short-answer questions, and essay questions. Students are required to apply their understanding of commerce principles to real-world scenarios and provide well-reasoned answers.
To prepare for the WAEC Commerce exam, students are advised to review their course materials, textbooks, and class notes. It is also beneficial to practice solving past exam papers to familiarize themselves with the format and types of questions asked.
By studying diligently and understanding the fundamental principles of commerce, students can increase their chances of performing well in the WAEC Commerce exam and demonstrating their knowledge and skills in the field of business and economics.
WAEC Commerce Questions and Answers 2023
The WAEC Commerce exam is a comprehensive assessment conducted by the West African Examinations Council (WAEC) to evaluate students' knowledge and understanding of commerce-related topics.
The exam covers a wide range of concepts and principles related to business, trade, finance, marketing, entrepreneurship, and economics. The duration and structure of the exam may vary depending on the specific year and country in which it is administered.
Typically, the exam consists of multiple-choice questions, short answer questions, and sometimes essay questions. The questions are designed to assess students' comprehension, critical thinking, and application of commerce principles.
WAEC Commerce 2023 exam will happen on 24th May 2023, as such the WAEC Commerce Questions and Answers 2023 have not been released, once the exam is over, we will update you with the WAEC Commerce Questions and Answers 2023.
But students who are appearing for WAEC Commerce 2023 exam can refer below to get the practice WAEC Commerce Questions and Answers.
WAEC Commerce Questions and Answers
Given below are practice WAEC Commerce Questions and Answers.
1. Which of the following must be present in an agency by agreement?
ANSWER: A ( intentions )
2. An agreement to sell is distinguishable from a sale because, in the former, the transfer of goods is
ANSWER: C ( deferred )
3. Mr Amusa says to Mr Bello ‘I will sell you this hat for N30’. And Mr Bello replied ‘i will pay N29’. The contract is
ANSWER: D ( an offer but no acceptance )
4. Nationalization of the industry means that its owner becomes of
ANSWER: A ( government )
5. The comprehensive import supervision scheme was set up by the federal government in order to
ANSWER: D (ensure that imports into Nigeria are of the correct quality, value, and quantity )
6. Commerce can be defined as the study of how
ANSWER: C (man buys, sells, and distributes goods and services)
7. …… activity turns processed raw materials into consumer and industrial goods is described as
ANSWER: B ( manufacturing )
8. The production process that combines two or more raw materials into one end product is
ANSWER: B (blending)
9. A demonstration of social responsibility by a business is the payment of
ANSWER: A (dividends to shareholders)
10. A distinguishing characteristic of a limited liability company is that it
ANSWER: C (can sue and be sued)
WAEC Commerce 2023 Exam Date
Time
Duration
2:00 pm. – 4:00 pm.
2hrs
4:00 pm. – 4:50 pm.
50mins
Date
Day
Subject
24th
May 2023 Wednesday
Commerce 2 (Essay)
Commerce 1 (Objective)
WAEC Commerce Questions and Answers 2023 - FAQs
The format of the WAEC Commerce exam typically consists of multiple-choice questions, short-answer questions, and essay-type questions.
The topics covered in the WAEC Commerce syllabus include business organization and management, production, marketing, finance, insurance, commerce and industry, and the economy.
The number of questions in the WAEC Commerce exam can vary, but it usually ranges from 50 to 100 questions, depending on the specific year and administration of the exam.